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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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20473322 No.20473322 [Reply] [Original]

https://www.coingecko.com/en/coins/yearn-finance

Ok, biz is sleeping on this, just look at the image and decide if it's for you. Released today, from a project with links to curve.fi

This thing has a tiny MC and supply. 1000% might be nothing.

>> No.20473358

>>20473322
Also, I realise this sound like a uniswap scam thread, but really this token came out of nowhere and now there's serious fomo

>> No.20473426

Still climbing biz, might the swing of july

>> No.20473472

Can confirm it's not a scam, I had this on my watch list for some time, but wtf I didn't expect it to do such a run up on listing. Jeez..

>> No.20473479

This is unironically the one example of a 1000$ eod coin I have ever seen, it's 778$ now.

>> No.20473526

>>20473322
holy fuck its at $1100

congrats to whomever is getting rich off this.

>> No.20473547

>>20473526
This has only just started. It's less than 10million mc and has links to curve finance.

>> No.20473630

To those not in the know, although this thing has a low circulating supply, there's no premine and there's no founder holding.

This token is released as an incentive to liquidity providers on curve.fi

>> No.20473803

how does the staking process work? the returns seem insane

>> No.20473811

This was stealth launched yesterday with no hype. Entire supply is from liquidity rewards for liquidity pools. No ICO or ECO or other founder tokens.

Total supply is 20,000. Circ supply less than 2k currently as most is still in smart contract for future rewards.

MCap is tiny given the supply constraints compared to similar Defi projects.

I earned 10 staking before the onrush this morning. Almost sold at $200 till I started doing the math

Tokenomics:
https://medium.com/iearn/yfi-df84573db81

>> No.20473892

>>20473803
I don't know, just provide liquidity to curve.fi in the y pool and you'll get it. The rewards are insane right now because of the stealth launch. Stake now/buy before the herd arrives, and I'm not being ironic this time.

>> No.20473900

>>20473811
MCap on coingecko now.

Still only 1.8m at ~$1000 a token

https://www.coingecko.com/en/coins/yearn-finance

>> No.20473938

You guys need to remember as well that the only downward pressure on this is earlier buyers, as the amount getting introduced via staking is minimal

>> No.20473939

>>20473322
>In further efforts to give up this control (mostly because we are lazy and don’t want to do it), we have released YFI, a completely valueless 0 supply token. We re-iterate, it has 0 financial value. There is no pre-mine, there is no sale, no you cannot buy it, no, it won’t be on uniswap, no, there won’t be an auction. We don’t have any of it.

https://medium.com/iearn/yfi-df84573db81

YOU ARE A FUCKING IDIOT IF YOU BUY THIS YOU ARE GETTING PAJEETED BY A 98/2 BALANCER POOL LMFAO

>> No.20473970

>>20473939

The value is what people pay for it. It has utility.

If you've followed crypto for any time you know they are saying that to keep the SEC off their back

>> No.20474011

>>20473892
so you just deposit any stable coin?

>> No.20474076

>>20473322
$10,000 soon

>> No.20474082

>>20473970
shut the fuck up pajeet
the whole point is you get it for free by putting money into any of the Yearn protocols
if you put money into this you will be bagholding forever

>> No.20474223

>>20473939
They are obviously saying that from a legal point of view.

>> No.20474340

>>20473322

yearn-finance is made by andre
the guy who worked on fantom

>> No.20474365

>>20474223
fuck off pajeet it's already dumping
unless you're actually one of the retards that paid over $1k for a governance token that can be mined freely in which case LOL

>> No.20474496

>>20473322
KEK IT WAS 32$ EARLER TODAY.

>> No.20474570
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20474570

>>20474365

>> No.20474631
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20474631

Amazingly based

>> No.20475042

So what does YFI actually do? Can you cash it in somewhere for something?

>> No.20475417

>>20475042
Primarily governance token for yearn.finance platform.

Also has a function where it can be burned for a portion of the rewards/interest accumulated on the yearn.finance platform. From my understanding, your share of rewards is based on your share of the total supply so there will be some strategy involved in if/when to burn tokens.

They are going to introduce the UI for these functions soon.

>> No.20475436

What kind of piece of shit site is this? 63 gwei and it can't push the deposit through ETH's slow shitty network?

>> No.20475471

>>20473322
Not buying your bags fags

>> No.20476422

>>20474340
Underrated comment

>> No.20476930

fucking shit, i was going to buy this yesterday but only had a DAI pair and i was drunk and didnt' bother...........